Baldwin Obtains New Credit Facility, Earnings release delayed

Tuesday, August 19, 2003

Press release from the issuing company

SHELTON, Conn.--Aug. 18, 2003-- Baldwin Technology Company, Inc. announced today that it has entered into a new $20 million revolving credit facility with Maple Bank GmbH, Frankfurt, Germany effective August 18, 2003. The closing was originally scheduled for August 15, 2003, but was delayed due to the effects of the power blackout on August 14 and August 15, 2003.
Gerald A. Nathe, Chairman and President of the Company, stated that the Maple Bank facility replaces a previous credit agreement that the Company and its subsidiaries had in place since 2000 with Fleet National Bank and Wachovia Bank National Association (formerly First Union National Bank). Mr. Nathe further stated that he is pleased to have Maple Bank as a financial partner and that borrowings under the new facility will be used for general corporate purposes.
Mr. Vijay Tharani, Chief Financial Officer, noted that the Company will be filing a Form 8-K Report with the Securities and Exchange Commission, which will be available in the SEC's EDGAR system or via a link on the Investors Relations section of the Company's web site.
He also noted that due to the refinancing effort, the year-end closing and earnings release have been delayed.